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Market Chatter: UAE Says Energy Exports Won't Be Held Hostage by Iran Conflict

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The UAE is accelerating the development of alternative trade and energy corridors to insulate its economy from the escalating conflict between the US and Iran, Reuters reported on Monday, citing the country's presidential adviser Anwar Gargash.

Iran's missile attacks and strikes on oil tankers in the critical Strait of Hormuz have heightened security risks across the Persian Gulf, prompting the UAE to pivot its logistical framework.

Gargash said that the UAE's energy exports, trade and economic activity will not be held hostage.

To bypass potential chokepoints, the UAE is scaling up port capacity along its eastern coast while fast-tracking new pipelines, rail networks, and overland trade routes. UAE Ministry of Foreign Affairs did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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